The Chinese tech giant Xiaomi is going through some managerial changes. According to the official information posted on October 15, 2021, Shanghai Xiaomi Financial Information Service Co., Ltd. already had an industrial and commercial change. Three of the big names associated with the company, namely Lei Jun, Hong Feng, and Lin Bin, withdrew from the company’s directors.
Xiaomi has appointed Lin Shiwei as the new executive director and general manager of the same. Moreover, the manager and legal representative were changed from Hong Feng to Lin Shiwei.
Shanghai Xiaomi Financial Information Service Co., Ltd. was established in July 2015 with a registered capital of 20 million RMB. One of the company’s main functions, among many others, is to provide financial information services. Furthermore, this company is also responsible for accepting commissions from various financial institutions so that the Xiaomi Financial Information Service can engage in outsourcing the financial information technology, financial business process, etc. Xiaomi’s page also mentions that the company is wholly owned by Tianxing Digital Technology Co., Ltd.
Incidentally, Xiaomi’s Financial Information Service is not the only branch that has gone through managerial changes recently. Very recently, the Chinese tech giant announced that the General Manager of Xiaomi’s major home appliances department is also the Vice President of Xiaomi’s electric vehicle unit and that he will also be responsible for all business-related products, supply chain, and marketing.
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Li Xiaoshuang has been appointed the new Vice President of Xiaomi’s electric vehicle unit. Although Lei Jun withdrew from the Financial Information Service, Li Xiaoshuang will be answering to Lei Jun, who still holds the position of CEO at Xiaomi. Lin Shiwei, who is the Vice President and CFO of Xiaomi, was appointed as CEO of Airstar Bank, and Zhao Weixing, who is the Vice President of Airstar Bank, was appointed as Chief Product Officer of the same platform.